Government projects UP's debt burden at over Rs 2.2 lakh crore

Lucknow: Uttar Pradesh's debt burden is estimated to be more than Rs 2.2 lakh crore in 2012-13, according to a state government report.

In its annual financial detail and analysis of financial state, the state government has projected a debt burden of Rs 2, 28,476.16 crore in 2012-2013, which would be 31.4 per cent of the gross state domestic product (GSDP).

If divided by the total population of the state, which is around 20 crore, the debt burden works out to be Rs 11,423 per individual.

The debt burden of the state has almost doubled in the last nine financial years.

While the debt burden of the state was Rs 1, 21,126.55 crore in the financial year 2004-05, it rose to Rs 2, 10,404.83 crore in fiscal 2011-12.

As per the estimates, the state would be required to pay Rs 16,617.56 crore as interest on the debt during current fiscal.

The fiscal deficit of the state has also increased in the last nine financial years.

While fiscal deficit was Rs 12,997 crore in the financial year 2004-05, it is estimated around Rs 21,570 crore in the current fiscal.